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BHP shareholders see room for one more sweetened Anglo bid

Published: 15 May 24

Shareholders in BHP Group and takeover target Anglo American expect the world’s largest miner to come back with a third and improved proposal before a regulatory deadline next week, even after the smaller company laid out a bold restructuring plan of its own on Tuesday. Anglo has twice rejected all-share approaches from BHP that would require it to spin off listed South African businesses, arguing the proposal created “significant uncertainty” for shareholders. Instead, to counter the latest $43-billion move, it has said it will itself exit diamonds, platinum and coal, turning into a miner focused on copper and iron ore — crown jewels for the group.

Itac makes strides in investigation of active yeast dumping from Zim

Published: 15 May 24

The International Trade Administration Commission (Itac) has asked the South African Reserve Bank to impose provisional duties on imports of active yeast originating in or imported from Zimbabwe for six months while further investigation into allegations of dumping is under way. Itac has been investigating the alleged dumping of active yeasts originating in or imported from Zimbabwe since August last year.

Tribunal conditionally approves Sea Harvest’s acquisition of Terrasan businesses

Published: 15 May 24

The Competition Tribunal has conditionally approved the proposed merger whereby subsidiaries of JSE-listed seafood and aquaculture company Sea Harvest intends to acquire certain subsidiaries of Terrasan. The subsidiaries being acquired are those engaged in the catching, processing and sale of pelagic fish, as well as in the farming, processing and selling of abalone.

Alamos intersects new style of mineralisation at Young-Davidson

Published: 15 May 24

Canadian gold miner Alamos has intersected a new style of higher grade gold mineralisation in zones within the hanging wall of its Young-Davidson mine. These zones, located between 10 m and up to 200 m south of existing infrastructure and mineral reserves and resources, highlight the upside potential of the deposit, with grades “well above” the current reserve grade of 2.31 g/t, the company says.

Codelco working to meet Q2 production goal, CEO says

Published: 15 May 24

Chilean mining giant Codelco is still working to meet its estimated output for the second quarter, CEO Ruben Alvarado told Reuters, as the State-run copper miner is pushing to boost production up from its lowest in 25 years. Alvarado said that a recent rise in copper prices is a positive sign, adding that any improvements would benefit Codelco's finances, but said that Codelco must wait to see if they remain stable.

Indigenous group to take fight against Arizona copper mine to Supreme Court

Published: 15 May 24

A Native American group said on Tuesday it will take its fight against Rio Tinto’s proposed Arizona copper mine to the US Supreme Court, after a federal appeals court refused to reconsider whether the US government may have improperly transferred land to the developer. The group said they would ask the high court to weigh in after the San Francisco-based 9th US Circuit Court of Appeals rejected a longshot bid to have the full 29-judge court reconsider earlier decisions not to block a land grant for the project. The court did not provide an explanation for its decision.

Qatar Airways to invest in an airline in Southern Africa

Published: 15 May 24

Qatar Airways will soon announce an investment in an airline in Southern Africa, its CEO said on Wednesday, part of the Gulf carrier's drive to expand its network in Africa. "We are at the final stage of an equity investment in an airline in the southern part of Africa," Badr Mohammed Al Meer said on a panel at the Qatar Economic Forum in Doha, saying the deal could be announced in two to three weeks.

US travel numbers to South Africa greater than ever before, reports United Airlines

Published: 15 May 24

The number of US visitors to South Africa is now higher than it was in 2019, the last year before the Covid-19 pandemic hit, United Airlines director sales continental Europe, India, Israel, Africa & Middle East Thorsten Lettnin tells Engineering News, in an exclusive interview. In 2022, the total number of travellers to South Africa from the US was some 350 000, a number on par with that for visitors to South Africa from the UK. “Since Covid, we have seen stronger demand on our South Africa routes,” he reports. “We think this is a new normality. It’s very good for United. We’re a major facilitator of US tourism to, and trade with, South Africa. We’re really happy. Interestingly, on the business travel side, smaller companies have come back to air travel faster that the big businesses.”

Execution risk to Anglo’s restructure plan substantial – WoodMac

Published: 15 May 24

Mining major Anglo American has accelerated its portfolio planning in the wake of rejecting fellow mining major BHP’s second bid proposal of $42.2-billion (£34-billion), or £27.70 a share, in a move that new research by consulting firm Wood Mackenzie (WoodMac) shows will take it from being the most diversified to the most concentrated major miner in the world. The report titled ‘Anglo American to rationalise all but copper and iron-ore production’ states that the company’s decision to take a strategic focus on the highest return commodities of copper and iron-ore mirrors similar moves by BHP and diversified miner Rio Tinto in looking to future-proof the business.

Gold Fields to earn into Killi’s West Tanami project

Published: 15 May 24

Exploration junior Killi Resources has announced an option and joint venture (JV) agreement with global miner Gold Fields, which has agreed to spend up to A$13-million for an 85% interest in the West Tanami project, in Western Australia. Killi CEO Kathryn Cutler said that the partnership with Gold Fields allowed access to expertise and funding for the longer term and would ensure the project continued its progress in pursuit of a new orogenic gold system in the Tanami.